Principal Asset Management Extends Relationship with SS&C

Rhea-AI Summary

SS&C Technologies Holdings (Nasdaq: SSNC) has announced the extension of its transfer agency relationship with Principal Asset Management, the investment management division of Principal Financial Group (Nasdaq: PFG). SS&C will continue providing comprehensive fund services to Principal's portfolio of 114 mutual funds, encompassing 467 mutual and retail alternatives share classes, managing approximately $160 billion in assets.

Through SS&C Global Investor & Distribution Solutions (GIDS), the company will deliver transfer agency and digital investor services, including investor communications, document processing, and anti-money laundering services. Principal's diverse investment offerings span over 50 fund types across equity, fixed income, real estate, and alternative strategies, serving both individual and institutional investors.

Positive

• Secured extension of major transfer agency relationship with Principal Asset Management ($160B AUM)
• Maintains significant revenue stream from servicing 114 mutual funds and 467 share classes
• Strengthens SS&C's position in fund services and transfer agency business

Negative

• None.

WINDSOR, Conn., March 25, 2025 /PRNewswire/ -- SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced that Principal Asset Management has extended its transfer agency relationship with SS&C. Principal Asset Management is the investment management division of Principal Financial Group (Nasdaq: PFG). SS&C Global Investor & Distribution Solutions will provide a full range of fund services to Principal's 114 mutual funds comprised of 467 mutual and retail alternatives share classes, with approximately $160 billion in assets under management.

Principal's offerings for individual and institutional investors feature more than 50 fund types across equity, fixed income, real estate to alternative strategies. SS&C provides transfer agency and digital investor services, including investor communications, document processing, anti-money laundering services and more.

"We are pleased to extend our valued long-term relationship with Principal Asset Management," said Nicole Greene, Head of SS&C GIDS, U.S. "Principal Asset Management is leading the innovation in financial products with both public and private investment capabilities, multi-asset strategies and retirement solutions. We look forward to working closely with the team to help them realize those ambitions while supporting top-of-the line investor services."

Learn more about SS&C's Global Investor and Distribution Solutions here.

About Principal Financial Group

Principal Financial Group^® (Nasdaq: PFG) is a global financial company with nearly 20,000 employees^* passionate about improving the wealth and well-being of people and businesses. In business for 145 years, we're helping more than 68 million customers^* plan, protect, invest, and retire, while working to support the communities where we do business, and build a diverse, inclusive workforce.  

*As of September 30, 2024  

About SS&C Technologies

SS&C is a global provider of services and software for the financial services and healthcare industries. Founded in 1986, SS&C is headquartered in Windsor, Connecticut, and has offices around the world. More than 22,000 financial services and healthcare organizations, from the world's largest companies to small and mid-market firms, rely on SS&C for expertise, scale and technology.

Additional information about
SS&C (Nasdaq: SSNC) is available at www.ssctech.com.

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SOURCE SS&C

FAQ

What is the size of Principal Asset Management's portfolio managed through SS&C SSNC?

Principal Asset Management's portfolio managed through SS&C includes 114 mutual funds with 467 share classes, totaling approximately $160 billion in assets under management.

What services will SS&C SSNC provide to Principal Asset Management?

SS&C will provide transfer agency and digital investor services, including investor communications, document processing, and anti-money laundering services.

How many fund types does Principal Asset Management offer through SS&C SSNC?

Principal Asset Management offers more than 50 fund types across equity, fixed income, real estate, and alternative strategies.

When was the transfer agency relationship extension announced between SS&C SSNC and Principal Asset Management?

The relationship extension was announced on March 25, 2025.